Hess quarterly profit drops 35 percent

July 30 Wed Jul 30, 2014 7:55am EDT

July 30 (Reuters) - Hess Corp, which produces oil in North Dakota, Iraq and Ghana, said on Wednesday its quarterly profit fell 35 percent after it sold off operations to focus on core exploration and production projects.

Hess posted net income of $931 million, or $2.96 per share, compared with $1.43 billion, or $4.16 per share, in the year-ago period.

The company's production dipped to 319,000 barrels of oil equivalent per day from 341,000 boe/d in the year-ago period.

(Reporting by Ernest Scheyder, Editing by Franklin Paul)

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